Energy Transfer Partners

Energy Services | Energy Transfer Partners | Industrywide Issues | M&A | Williams

Energy Transfer Makes “Indecent Proposal” to Buy Williams for $48B
June 22, 2015June 22, 2015

Sunday evening MDN spotted what has to be THE biggest midstream story of 2015: Somebody wants to buy out and take over Williams Companies. The biggest midstream story of 2014 was the buyout of Access Midstream (the former Chesapeake Midstream) by Williams, creating a company that is nearly the size and certainly a worthy rival of the country’s biggest pipeline company Kinder Morgan (see Big News: Williams Partners Buying Access Midstream for $6B). Williams said at the time the “total transaction value” (or TTV) would create a combined company worth nearly $50 billion (see Deal Details for Williams/Access Midstream Merger – TTV of $50B!). Sunday evening Williams said, in a pair of prepared press releases, that somebody (they wouldn’t name who) has made an “unsolicited proposal” (almost sounding like an indecent proposal) to buy Williams for $64 per share, or a total deal worth $48 billion. Williams has rebuffed the offering, hiring some high-powered bankers to help them out of this mess. The guy and company making the offer, it has since been revealed, is none other than Kelcy Warren, CEO of both Energy Transfer Partners and Energy Transfer Equity, the main shareholder of ETP. ETP is very active in the Marcellus/Utica. We have as much as we can gather on Warren, background on ETP/ETE, his indecent proposal to Williams, and what Williams–one of if not THE largest midstream companies in the northeast–is doing in response to Warren’s proposal…
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Energy Services | Energy Transfer Partners | Industrywide Issues | M&A | Williams

ETE Says Shareholders Big Winners in Potential Williams Merger
June 22, 2015June 22, 2015

Energy Transfer Equity is offering their side of the story in the proposed merger/takeover of Williams. MDN’s lead story today is about that merger. On Sunday, Williams issued a pair of press releases refusing to name who the suitor is, but essentially said that somebody (ETE) is making an offer to buy them (see Energy Transfer Makes “Indecent Proposal” to Buy Williams for $48B). As you know, there’s always two sides to a story. ETE, the main investor in Energy Transfer Partners, is offering their side of the story. ETE’s version is much more lengthy than Williams and includes the claim that the ETE proposal offers a 32.4% premium to Williams stockholders “with a high degree of transaction certainty”…
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Butler County | Economic Impact | Energy Services | Energy Transfer Partners | Industrywide Issues | Pennsylvania | Pipelines | Processing Plants

ETP Announces $1.5B Revolution Pipeline/Plant Project in SWPA
June 9, 2015June 9, 2015

An important new project in the Marcellus/Utica was announced by Energy Transfer Partners (ETP) yesterday. The project, dubbed the Revolution Project, includes a new 100-mile gathering pipeline system in Butler County, PA along with a new cryogenic gas processing plant to be constructed “in western Pennsylvania.” The processing plant will be called the Revolution Plant. A pipeline (called the Revolution Pipeline) will be constructed to connect the Revolution Plant to Sunoco Logistics’ Mariner East NGL pipeline to handle NGLs coming from the plant. Another pipeline will be built to connect the plant to ETP’s Rover pipeline to handle natural gas coming from the plant. Also part of the Revolution Project will be a new fractionation facility to be built at the Marcus Hook refinery in the Philadelphia area. Total price tag for the whole shebang: $1.5 billion…
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Energy Services | Energy Transfer Partners | Industrywide Issues | M&A | Pipelines | Regency Energy Partners

ETP Seals the Deal – Buyout of Regency Energy for $25B Complete
May 1, 2015May 1, 2015

MDN told you about the big money buyout midstream company Regency Energy by midstream company Energy Transfer Partners for $25 billion (see Energy Transfer Partners Buys Regency Energy for $25B). As we had also reported, the date for the buyout was April 28 (see ETP Buyout of Regency Energy Has a Date: April 28). The deed is now done and, at least on paper, Regency Energy is no more…
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Energy Services | Energy Transfer Partners | Industrywide Issues | Ohio | Pipelines | Statewide OH

ET Rover Pipeline Launches New Website, Updated Route Maps
April 8, 2015April 8, 2015

ET Rover is a now 711-mile (down from 830-mile) Marcellus/Utica natural gas pipeline that will serve mostly U.S. customers that will cost $3.7 billion (down from $4.4 billion) to build and run from PA, WV and eastern OH through OH into Michigan and eventually into Canada (see ET Rover Pipeline’s 800-Mile Journey Begins with FERC Filing). As with all Marcellus/Utica pipeline projects, ET Rover hasn’t been without its detractors and legal issues (see OH Law Firm Asks FERC to Stop ET Rover Pipeline Eminent Domain). Yesterday Energy Transfer Partners, the company that will build ET Rover, announced a new website. They also provided updated maps to county libraries along the proposed path of the pipeline’s route…
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Energy Services | Energy Transfer Partners | Industrywide Issues | M&A | Regency Energy Partners

ETP Buyout of Regency Energy Has a Date: April 28
March 11, 2015March 11, 2015

In January MDN brought you the big news that Energy Transfer Partners (ETP) is buying/merging with Regency Energy Partners (see Energy Transfer Partners Buys Regency Energy for $25B). Both companies have meaningful operations in the Marcellus/Utica region. These mergers & acquisitions, as you know, take time. Both companies have been busy and Regency reported earlier this week they have a date to make it all final: April 28. On that date, Regency will hold a special meeting at their company headquarters in Dallas, TX to vote on the deal…
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Energy Services | Energy Transfer Partners

ETP Swapping $2.5B of Old Debt for New Debt, Floats Notes
March 11, 2015March 11, 2015

Energy Transfer Partners (ETP) is buying Regency Energy Partners and assuming $6.8 billion worth of debt in the process (see Energy Transfer Partners Buys Regency Energy for $25B). Apparently it’s time to clean up the old debt ETP has on the books, so they’re floating notes (or IOUs) looking to trade $2.5 billion worth of new debt for old debt…
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Energy Services | Energy Transfer Partners | Industrywide Issues | Litigation | Ohio | Pipelines | Regulation | Statewide OH

OH Law Firm Asks FERC to Stop ET Rover Pipeline Eminent Domain
March 10, 2015March 10, 2015

Columbus, OH law firm has filed a motion with the Federal Energy Regulatory Commission (FERC) challenging Energy Transfer Partners’ ET Rover application before FERC. The issue at the heart of the motion is to prevent ET Rover from invoking eminent domain and steamrollering over landowners, building the pipeline without an agreement in place with each individual landowner first. When pipeline companies have the power of eminent domain, they hold all the cards. They can say, “Here’s the offer–take it or leave it–and if you leave it, we’ll build the pipeline through your land anyway at the price we want.” We’ve never been fans of eminent domain for pipelines. Far better for pipeline companies to work it out with landowners and pay them–or reroute it through someone else’s property who will play ball. We acknowledge it’s a thorny issue and not completely black and white. ET Rover is an 830-mile, $4.4 billion pipeline that will flow Marcellus and Utica Shale gas from PA, WV and eastern OH through OH into Michigan and eventually into Canada (see ET Rover Pipeline’s 800-Mile Journey Begins with FERC Filing). The bulk of the pipeline will run diagonally from southeast to northwest across Ohio. Just yesterday we told you about ET Rover’s program to help landowners (see ET Rover Pipeline Hires Land Stewards to Protect the Land in OH). The motion filed with FERC, from what we can tell in reading the press release and the motion itself (embedded below) is not an attempt to stop ET Rover–it’s an attempt to give landowners more negotiating power and leave them firmly in control of whether, and how much, they will accept to allow the pipeline through their property…
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Energy Services | Energy Transfer Partners | Industrywide Issues | Ohio | Pipelines | Statewide OH

ET Rover Pipeline Hires Land Stewards to Protect the Land in OH
March 9, 2015March 9, 2015

As we’ve been reporting for some time, Energy Transfer Partners (ETP) plans to build an 830-mile, $4.4 billion pipeline, called the ET Rover Pipeline, from PA and WV and eastern OH through OH into Michigan and eventually into Canada (see ET Rover Pipeline’s 800-Mile Journey Begins with FERC Filing). The pipeline will flow Marcellus and Utica Shale gas to Midwestern US markets and to Canadian markets. The longest stretch of pipeline will cross OH. In an effort to ensure Ohioans have an advocate to ensure their land is impacted as minimally as is possible, ETP is paying for the services of an ombudsman, a representative who will look out for the landowner’s best interest. It is Ohio-based firm Land Stewards–“a team of certified soil scientists, agricultural engineers, agronomists and conservation planners.” Does ETP get thanked taking this extraordinary over-and-above step? No. Instead, they get criticized…
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Belmont County | Economic Impact | Energy Services | Energy Transfer Partners | Harrison County | Industrywide Issues | Jefferson County (OH) | Jobs | Monroe County | Ohio | Pipelines

List of Towns in 4 SE OH Counties Getting ET Rover Pipeline
February 26, 2015February 26, 2015

Southeast OH will soon see a lot of new pipelines being laid, and along with it, a lot of new jobs. Energy Transfer Partners recently briefed Monroe County Commissioners on the ET Rover pipeline project, an 800-mile, $4.4 billion pipeline that will connect the Marcellus and Utica Shale region to Canada (see ET Rover Pipeline’s 800-Mile Journey Begins with FERC Filing). If the pipeline is laid as currently planned in the southeastern portion of Ohio, the pipeline will traverse 46.31 miles in Monroe County, 34.99 miles in Belmont County, 20.06 miles in Jefferson County and 17.7 miles in Harrison County. Here’s a list of the lucky townships in those four counties where the pipeline is due to go…
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Energy Services | Energy Transfer Partners | Industrywide Issues | Lease & Royalty Payments | Ohio | Pipelines | Richland County | Statewide OH

Advice to OH Landowners Approached for Pipeline Easements
January 29, 2015January 29, 2015

The Energy Transfer Partners Rover pipeline (ET Rover) is probably the biggest pipeline project currently under way in the U.S. It’s bigger than the Keystone XL pipeline! In places like Richland and Crawford counties in Ohio, ET Rover is actually two pipelines–42 inches in diameter, sitting side by side. The entire length is 820 miles and will stretch from WV and PA through OH and into Michigan and eventually to Canada. Landowners in Richland and Crawford attended a meeting sponsored by a Columbus law firm last night to hear some sobering truth: the pipeline will happen and it is coming. But that doesn’t mean landowners are helpless. The attorneys offered some good advice that all landowners approached for pipeline easements should listen to…
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Accidents | Brooke County | Energy Services | Energy Transfer Partners | Ethane | Industrywide Issues | Pipelines | West Virginia

ATEX Ethane Pipeline Explodes, Burns in Brooke County, WV
January 27, 2015January 27, 2015

Yesterday morning a section of the 20-inch ATEX (Appalachia to Texas) ethane pipeline ruptured and caught fire in Follansbee (Brooke County), WV. No one was injured but two families living nearby were evacuated as a precaution. The first calls of an explosion and fire came around 10:40 am yesterday. The cause of the rupture is not yet known…
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Energy Services | Energy Transfer Partners | Industrywide Issues | M&A | Regency Energy Partners

Energy Transfer Partners Buys Regency Energy for $25B
January 26, 2015January 26, 2015

Big news in the midstream (pipelines and processing plants) world. Today, Energy Transfer Partners (ETP) announced they are merging with and buying Regency Energy Partners in a deal with a total value of $24.8 billion–$18 billion in stock and cash, and $6.8 billion in assumed Regency debts. You may recognize both names, as both companies are active in the Marcellus and Utica Shale…
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Energy Services | Energy Transfer Partners | Industrywide Issues | Lease & Royalty Payments | Pipelines | Tyler County | West Virginia

What’s a Fair Price for Running Pipelines Through Your Property?
January 5, 2015January 5, 2015

The landowners in Tyler County, WV who sit along the proposed route of Energy Transfer Partners 800-mile, $4.4 billion pipeline, called Rover, to connect the Marcellus/Utica region with the Midwest and Canada are asking for one thing: a fair price. According to one landowner, they’ve received an offer from ETP that’s about 1/3 of where it should be. Problem is, if landowners don’t accept ETP’s offer, once the Federal Energy Regulatory Commission (FERC) approves the pipeline, ETP can then use eminent domain to simply take the land it needs and pay the price it wants to pay. Landowners’ only recourse at that point is to ask a court to arbitrate a price. No, we’re not fans of eminent domain–it’s an imperfect concept for an imperfect situation in which some hold-out landowners remain unreasonable. But that doesn’t excuse lack of a fair price. So what price has been offered and what do landowners think is a fair price to receive?…
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Energy Services | Energy Transfer Partners | Industrywide Issues | Ohio | Pipelines | Regulation | Statewide OH

ET Rover Pipeline’s 800-Mile Journey Begins with FERC Filing
December 15, 2014December 15, 2014

Energy Transfer Partners plans to build an 800-mile, $4.4 billion pipeline that will connect the Marcellus and Utica Shale region to Canada (see ET Rover Pipeline Fully Subscribed, Project Scope Revised Up). The pipeline will connect Pennsylvania, West Virginia and Ohio and cross the Buckeye State going northwest before entering Michigan and eventually taking a dog-leg into Ontario (see the map embedded below). These kinds of projects take multiple years to complete–with many steps. On Friday, ET filed their draft Resource Reports of environmental survey data with the Federal Energy Regulatory Commission (FERC). It’s one of the first steps on an 800-mile journey…
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Economic Impact | Energy Services | Energy Transfer Partners | Industrywide Issues | Jobs | Ohio | Pipelines | Statewide OH | Taxation

Property Tax Revenue/Economic Impact from ET Rover Pipeline in OH
December 4, 2014December 4, 2014

Seems like “all of a sudden” large pipeline projects planned for the northeast have begun talking about how much property taxes (and economic impacts) their projects will pay out. Yesterday it was the 550-mile Atlantic Coast Pipeline project from Dominion (see Atlantic Coast Pipeline: $25M/Yr in Prop. Tax, $70M/Yr Econ Impact). Today? Energy Transfer Partners’ Rover pipeline, a 620-mile pipeline that will carry Marcellus and Utica Shale gas west, through Ohio into Michigan and on to Ontario, Canada (see Big News: ETP “Rover” Marcellus/Utica Pipeline to Midwest/Canada). How much of an economic impact and how much in property tax will it pay out? We have some numbers…
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